The Board’s dividend policy is to increase the dividend in line with the long-term underlying growth in US Dollar earnings. Interim dividends are usually one half of the total dividend paid in respect of the preceding financial year.

Dividends will be announced in US Dollars but will continue to be paid in Sterling. Holders of American Depositary Receipts will continue to be paid in US Dollars.

The Sterling amount payable per share will be fixed at the same time as the US Dollar dividend is announced. The rate of exchange used to determine the Sterling amount equivalent is the average of the three business days prior to the announcement of any dividend.

Dividends will be paid on the same day whether the shares are held directly or through the American Depositary Receipt facility.